Again, having read all the wonderful PR about the Employee Provident Fund Organization’s (EPFO) wonderful ePassbook Service, I thought I should download mine before the year ends. But, I think I am quite unlucky this December. First, I couldn’t make an iWish and now I’m unable to access my EPF ePassbook. Here’s the exact error […]
So D’s office sends this email (excerpts below) — Please find attached detailed guidelines for checking your Employee Provident Fund (EPF) account balance online through http://www.epfindia.nic.in/MembBal.html. — Click on http://www.epfindia.nic.in/MembBal.html. — Select <State>. Select <City>. — Enter <Company> Establishment Number (for example: 00ABCDE). — Leave Extension Number blank. — Enter your EPF account number (for […]
When I resigned from my previous job, I opted to withdraw my Employees Provident Fund (EPF) contribution. Unlike D, I don’t contribute to the Voluntary Provident Fund (VPF) — hence my EPF corpus was built on a monthly contribution of 12% of my Basic Salary plus an equal match from my employer. I filled-up the […]
This is a question that I’m often asked. In fact, a couple of weeks back, a colleague whose internship was recently converted into a full-time position also posed the same question: “Starting this month, I’ll be earning a regular salary. How do I ensure that I don’t spend it all away?” Awesome! The road to […]
A reader asks, Recently, there was a hike in the EPF (Employee Provident fund) interest rate. Will this rate be applicable for the PPF (Public Provident Fund) too? Please publish this question on your blog as it would clarify facts for a lot of investors like myself. The answer is NO — currently there is […]
Thought I’d ask this question that many of us face when changing jobs. The choice becomes all the more difficult especially when you know that your EPF corpus is a significant amount. [polldaddy poll=3823702]
In response to my post on why you shouldn’t opt for a decrease in your Employee Provident Fund contributions in lieu of an increase in your take home pay, reader Siva commented: But, in need, it’s always a problem to get back your money from the Government PF office. When a friend wanted to start […]
One of the suggestions that came up during an office discussion about the effects of the recent circular issued by the Central Board for Direct Taxes (CBDT) was: Employees whose basic salary is greater than INR 6,500 per month can opt to receive an employee provident fund amount limited to 12% of INR 6,500 i.e. […]
Yesterday, I talked about why it makes sense to have a higher basic pay as part of your salary? My friend and guest blogger Shilpa immediately took my calculations forward in order to determine what difference the basic pay would make to your take home salary. Grab a copy of her calculations. What do you […]
Recently, at work, there was a restructuring of our salary components. Many concerns were raised when the outside consultants proposed that Basic pay be at least 50% of the Gross pay — it was finally fixed at 40%. I think we lost out. Here’s the math (all figures are per annum). Suppose your Gross pay […]
This is a guest post from Shilpa at Under the Rainbow. Though Shilpa claims that “she knows zilch about financial planning,” her post below proves the opposite. This story-style post on personal finance is the first of its kind on this blog and is the perfect complement to my posts on EPF. In 1993, Mr. […]
This post is the result of a conversation I recently had with a reader. If your employer offers you the option to avail of Employees’ Provident Fund (EPF) facility as part of your salary package, I’d strongly recommend that you take up this option. Often, employers make salary offers which compare your salary package with […]